Res88 10925 - Laserfiche WebLink

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MJP:mm0 10/19/88 (#23/037) subject to the approval of the City Attorney, securing the faithful performance of said Owners of all work and construction of all improvements designated or mentioned in said agreement, within the time therein specified, the amount of said security to be One Million Four Hundred Thousand and No/100 ($1,400,000.00); and shall also furnish to City and file with the City Clerk, a good and sufficient security in a form subject to the approval of the City Attorney securing the payment by Owners of all bills for labor and materials incurred in the construction of any and all said improvements, and the doing of all other work therein agreed to be done by Owners, the amount of said security to be One Million Four Hundred Thousand and No/100 Dollars ($1,400,000.00). Said Owners shall have prepared complete lias built" plans prior to the release of the II faithful performance II and II labor and material" bonds described herein. (c) Before the release of said final map by City for recordation, the Owners shall for one (1) year guarantee the workmanship and materials of all work and construction of all improvements designated or mentioned in said agreement. After the release of said final map but before acceptance of the improvements by City, Owners shall furnish to City and file with the City Clerk a good and sufficient security in a form subject to the approval of the City Attorney, securing the faithful performance by Owners of all maintenance work, the amount of said security to be One Hundred Forty Thousand and No/100 Dollars ($140,000.00). Said security shall be effective for a period of one (1) year after acceptance of the improvements by City's Council. (d) Before the release of said final map by City for recordation, Owners shall deposit Fifty Thousand Seven Hundred and No/100 Dollars ($50,700.00) for plan checking, engineering, inspection, laboratory and field testing, water supply, and all other applicable fees and charges. Any part of the deposit not utilized by City for payment of its services, shall be returned to the Owners. The Owners understand and agree that the amount of deposit is an estimate and agree to pay any additional amount for plan check and inspection services provided by City wi thin ten (10) days after billing by the City Collector. (e) Before the release of said final map by City for recordation, Owners shall furnish to the City and file with the City Clerk, certificates and policies of public liability and property damage insurance as required by the above-described agreement. (f) Before the release of said final map by City for recordation, the City Council shall adopt a resolution which 2